The Kind of Money in Brazil

The unit of currency in Brazil is the real (pronounced "he-OWL") or plural reais ("he-EYES"). It is subdivided into 100 centavos. The real is indicated by an R$ sign before the amount.

History

The real was the official currency from 1690 to 1942, and at that time it was not subdivided. It was then replaced by the cruzeiro from 1942 until 1986 and again in 1990 until 1993. The real in its 2009 form was implemented July 1, 1994 by President Itamar Franco.

Exchange Rate

The current exchange rate as of July 7th, 2009 is $1.00 U.S. equals R$1.97 Brazilian. The daily buy and sell rates are published on the Central Bank of Brazil's website, which has an English version.

Coins

Brazil has coins currently in circulation in denominations of 5, 10, 25, and 50 centavos as well as the R$1. The 1 centavo was discontinued in 2006.

Paper money

Brazil also has paper money in denominations of R$1, R$2, R$5, R$10, R$20, R$50 and a rarely used R$100.

Identification

Each denomination of paper money is a different color making them easy to quickly distinguish. On the front they feature the effigy of the Republic and on the reverse side they each feature a different type of Brazilian wildlife.

Fun Fact

In 2000, to honor the discovery of Brazil by the Portuguese, a special polymer R$10 note was issued. It features the Portuguese explorer Pedro Álvares Cabral, who discovered Brazil on April 22, 1500, on the front.

References

• Casa da Moeda do Brazil (Mint)
• Central Bank of Brazil
• CoinMill.com The Currency Converter